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Consumer behaviour - Essay Example

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The business and corporations comprises of several departments that includes human resource, finance, and accounts, supply chain management, marketing and many more. These primary and fundamental components make a business and enterprises successful by the proper and efficient functioning of the departments. …
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Consumer behaviour

Download file to see previous pages... The recent and contemporary marketing concept brings into limelight the piece of information that with the fulfillment of the needs and wants of the target market or the customers, the organization is more likely to accomplish and achieve their goals and objectives. Furthermore, with the contentment of the customers in a more effective and persuasive manner than that of the competitors, the enterprise would get an edge over their competitors (Hoyer & Macinnis, pp. 16-20, 2009).
One of the important elements of marketing that facilitates the organization in acquainting and understanding the buying patterns of the products and services of the customers. Many of the important questions that includes when, why, how and where people have a tendency to buy a particular product or service come under the analysis and examination in consumer behavior. Furthermore, the study of consumer behavior will assist the businesses and organizations not only to attract new customers, but will also support in retaining the old and current customers that will eventually lead the organization to survive and sustain in the distant future. (Silk & Harvard Business School, pp. 47-53, 2006). In addition, the study of consumer behavior also helps and endeavors to comprehend and identify the factors on which the decisions of the customers depend and rely on made either on individual basis or in groups. Therefore, it is considerably an imperative and vital feature of marketing management segment. According to the definition, consumer behavior is “The totality of consumers’ decision with respect to the acquisition, consumption, and disposition of goods, services, activities, experiences, people, and ideas by (human)decision-making units (over time)” (Hoyer & Macinnis, pp.3, 2009) Data resulting from the demography such as age, gender, income, education, behavioral temperament are they key distinctive and distinguishing characteristics used in the research of consumer behavior. Moreover, how the families, friends, reference groups, culture, and community play a dominant and persuasive role are also the principal and prime attributes in the studies and evaluations of consumer behavior. As the study of the buying pattern of the customers is a multifaceted and complex process where numerous aspects influence and affects the pattern, therefore, huge amount of money and a lot of time comes under spending and consumption by the enterprises and their marketing departments (East & Wright & Vanhuele, pp. 3-10, 2008). Thus, this practice comes under performance in order to identify and distinguish the causes of the decisions on which the consumers make their purchasing of a particular product or service. Interests, actions and behaviors, like and dislikes, perceptions, beliefs, and communication and dealing with ...Download file to see next pagesRead More
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